Forex MegaDroid review - 12 brokerages

Originally Posted by Hawk Trader

guys,

I just took a look to the real money competition at www.forex-robots.com and the Megadroid had a rough week it lost a fifth of its balance. I've been hearing rumors than the market is changing its behavior on this days and that some forex robots will not work anymore, this seems to be the case with the megadroid and the funnel both winners of the last competition, which are seeing it rough right now.

when you buy something that you cant customize and where other people have control over you #they play with you dirty games

[Hawk Trader]

Originally Posted by cooltrader

when you buy something that you cant customize and where other people have control over you #they play with you dirty games

Yeah, that can be true most of the time, nevertheless, I have to rectify myself.
The Megadroid already recovered and ethen win some at www.forex-robots.com . I rushed myself into a stupid conclusion, sorry for spreading panic.

[hotsawce]

Originally Posted by Hawk Trader

Yeah, that can be true most of the time, nevertheless, I have to rectify myself.
The Megadroid already recovered and ethen win some at www.forex-robots.com . I rushed myself into a stupid conclusion, sorry for spreading panic.

Yea, you did rush to a stupid conclusion. After all the testing done here, it's pretty much safe to say megadroid is one of the better EAs out there.

On the other hand, Forex Funnel blew its balance, and Forex Phantom made a surprise run. Does anyone have info on Forex Phantom?

[pipdetector]

FF crash is nothing surprising. It's one of the EAs that should never be active during NFP day.

I am delighted by the way MD has recovered from the losses. It is becoming one of my favorites. I added it to my second account. After 6 months of forward testing it seems really resilient. I think that this is because 1) it is well designed and 2) it is placed on EUR/USD pair so it does not suffer so much of liquidity problems as the FAPT pairs do (even now).

[hotsawce]

any megadroid updates lately?

hows your account faring, pip detector? Wavering between Megadroid and GT Shadow now...can't pick one or a broker (I heard FXDD has been a pain in the butt lately.)

[pipdetector]

Originally Posted by hotsawce

any megadroid updates lately?

hows your account faring, pip detector? Wavering between Megadroid and GT Shadow now...can't pick one or a broker (I heard FXDD has been a pain in the butt lately.)

FXDD is out of the game as far as GT-Shadow is concerned. Although they still allow for hedging and FIFO on MT4, the maximum leverage is 100:1 which is not recommended for GT-Shadow. I will wait till all the GT trades close at profit (I hope this will happen), but I do not oparate GT-Shadow on this account any more. I am going to phase out the whole account, but till the time I will place MD on it and see how it will fare.

I have been using MD with my two other accounts. On one there was a sizable loss in December which was quickly made up for and MD is positive again. On the other I started MD two weeks ago and all the trades where in profit. I used MD with Risk Level 5. But now I am going to change it to the default value, which is 10.

I will use both MD and GT next year. The reasons:

1. They use different strategies (scalping and grid)
2. They use different currency pairs

Combining long and short term strategies and different currency pairs should be safer than using either of these EAs only.

[hotsawce]

Always like hearing your strategies and updates. Thank you.

[hotsawce]

I'm going to be purchasing Megadroid sometime this month, and I will be demoing immediately after and then opening a live account.

I have a few questions, though. What is the best broker for US citizens at the moment that isn't NFA regulated? I want to take full advantage of the bot.

Secondly, I'm going to have a little bit of money to play with in the live account, but I'd like to use more or roll over some money from an IRA. Does anyone know if forex brokers or firms will roll over money from an IRA? I'm having trouble getting information on this. I know my current broker doesn't even have an option for forex, and I'd like to put the money to use in something more sure and profitable, as I am over the "stocks" craze

[PipCop]

For brokers, try Forex.com and their MetaTrader setup. Non-FIFO accounts are available. I trade live with them and they seem fine so far.

I've heard of folks doing the 401k thing, but I don't have any more info, sorry.

[hotsawce]

Okay, update for anyone interested.

Forex.com will offer roll over services for retirement accounts if you choose to trade with money from yours. This is a big plus.

Only thing I'm concerned about at the moment are the spreads. They seem to be a little higher than some other brokers. Does this affect Megadroid at all? Also, what about the leverage ? Does anyone here play with different leverage or do you stick to the 1:100? It would make sense that a higher leverage would make megadroid more profitable, but I don't know if it works well with higher leverages.



I'm also not sure as to what risk setting I should run it on when I get it. Is high risk safe? forex-robots.com high risk megadroid did phenomenally well, and I think the one on the Megadroid clickbank page runs at a fairly high risk (though I don't know the risk factor for either/ if anyone does could they please tell me?)

Basically, any info regarding the high risk setting/leverage at forex-robots.com and the official site would be great.